A man walks past an electronic board displaying Japan's 10-year government bonds level, the current Japanese Yen exchange rate against the U.S. dollar and Nikkei share average, outside a brokerage in Tokyo, Japan, October 31, 2023.
It's been a mixed start for most of Asia in this holiday-truncated week, though Japanese shares extended their bull streak to hit highs not seen since 1990.
The Nikkei is up more than 8% so far this month, and almost 29% for the year so far.
The entire market capitalisation of the Topix is 454 trillion yen ($3.03 trillion), yet Japanese companies held 555 trillion yen in internal reserves at the end of the financial year.
Recent surveys show inflation expectations are finally picking up which may prompt households to invest some of the 1,000 trillion yen they currently keep in cash and deposits into equities and bonds.
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